Business Embraces Hong Kong Security Law. The Money Helps.

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HONG KONG — The business world has largely fallen in line behind China’s campaign to tighten its grip on Hong Kong, including its support for a new national security law that many residents fear will hurt the former British colony’s status as a laissez-faire, freethinking city.Beijing twisted some arms to win that support, hinting that it could use its huge clout to punish any global company or local tycoon who crosses it. But China has also won over some business hearts and minds — and a big new inflow of Chinese money into the territory has helped it make its case.The money, totaling billions of dollars in new stock offerings and property deals by blue-chip Chinese companies in the past few weeks alone, have bolstered perceptions in the business world that Hong Kong will remain a deeply profitable place to do business for years to come. Some business leaders and bankers even endorse Beijing’s argument that the new law will help Hong Kong’s status as a business hub by helping the police crack down on sometimes violent antigovernment protests.In Hong Kong’s gleaming skyscrapers and wood-paneled conference rooms, many bankers and deal makers discussed their …

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